The total amount of deposits and mutual funds held by non-residents in 12 of the largest offshore centers reached a post-crisis high of $14.2tn in 2011. However, this was still below the 2007 peak. Increased pressure on offshore centers to clean up their acts has limited their role as bases for tax avoidance for companies and individuals, to the benefit of safe havens such as the US and the UK.

Published By Datamonitor

Coming hot on the heels of UK bank Lloyds TSB's announcement that it is to move its contact center operations from Mumbai to the UK, a new report has revealed that contact center outsourcing providers are set to face tremendous challenges with the emergence of late-adopting vertical markets. Indeed, vendors are struggling to adapt industry-specific solutions to both new and established clients.

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Consumers attempting to stick to a budget have a number of tools available to them through their mobile phones to aid the management of their money. Regular micro-management of finances facilitates saving and keeps track of everyday spending. Third-party providers are currently leading the field but these tools are a clear next step for mainstream banking apps.

Published By Datamonitor

The lackluster performance of NFC-based wallets globally compared to the relative success of cloud-based payment models using bar and QR codes suggests that the latter will continue to see rapid development in the year ahead.

Published By Datamonitor

The 2007-08 financial crisis has had an enduring effect on the composition of the global retail savings and investments market and has put significant pressure on wealth managers, but the situation is slowly improving.

Published By Datamonitor

Applications giving wealth management clients access to investment and market information were very popular in 2012, as were applications allowing banking and trading transactions. However, despite numerous firms offering software to create applications for advisors uptake was limited. Granted, implementation is costly, but the security benefits and client interaction offer unique advantages.

Published By Datamonitor

Following Standard & Poor's decision to downgrade the specialist insurer and reinsurer Alea from A- to BBB+, it is questionable whether the group can continue to meet its obligations, particularly if trading conditions were to worsen. The effects of Hurricane Katrina will do little to ameliorate the climate for insurers, and the company may yet be forced to put itself up for sale.